Hiscox leads the way with stand-alone terrorism and kidnap and ransom insurance
Product
In the 1970s, after a series of high-profile incidents, kidnap became a real danger for public figures and prominent business people, and the demand for insurance grew. Since then, Hiscox has become the world’s leading insurer against kidnap and ransom, with around two-thirds of the world’s premium income.
The threat of international terrorism and the potentially devastating consequences of indiscriminate violence present new challenges for businesses worldwide, where difficulty in distinguishing between the insurable perils has only increased over time. In response to the diverse nature of military conflicts across the world, Hiscox develop a war terrorism and political violence (WTPV) policy to protect against losses of physical damage and business interruption directly caused by acts of war, terrorism, sabotage and hostilities of a warlike nature, even if a war has not been declared.
